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기업의 사회적 책임과 상품차별화된 시장의 R&D 리스크 선택

Corporate Social Responsibility and the R&D Risk Choices in a Product Differentiated Market

이상호|조수미
보험연구원 (Korea Insurance Research Institute)|2020.02|보험금융연구 (Journal of Insurance and Finance)|제31권 제1호|pp. 53-86|DOI 10.23842/jif.2020.31.1.002

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키워드

사회적 책임Corporate Social Responsibility시장 경쟁Market CompetitionDuopoly Market복점시장R&D 리스크상품 대체성R&D Risk ChoicesProduct Substitutability
주제분류경영학

초록

본 연구는 복점시장에서 경쟁하는 두 기업이 선택하는 R&D 리스크가 사회적 책임(CSR)의 정도와 상품차별화의 정도에 따라 어떠한 영향을 받는지 살펴보기 위해 가격 경쟁과 생산량 경쟁을 비교한다. 생산량 경쟁에서는 CSR을 추구하는 기업이 선택하는 R&D 리스크가 사기업의 그것보다 항상 높고, 두 기업간 R&D 리스크의 차이는 상품대체성 및 CSR 정도에 따라 단조적으로 증가한다. 가격 경쟁에서는 상품대체성이 낮은 경우에는 CSR기업이 선택하는 R&D 리스크가 사기업의 그것보다 높지만, 상품대체성이 높은 경우에는 결과가 역전된다. 생산량 경쟁과 가격 경쟁의 R&D 리스크를 비교하면 CSR의 정도에 상관없이 가격 경쟁에서 R&D 리스크가 높지만, 상품차별화의 정도가 낮은 (높은) 경우에는 가격 경쟁을 하는 CSR기업(사기업)의 R&D 리스크가 가장 높고 생산량 경쟁을 하는 사기업의 R&D 리스크 수준이 가장 낮다 (높다). 마지막으로, CSR기업이 전략적으로 CSR의 정도를 선택하는 경우에는 생산량 (가격) 경쟁에서 상품대체성의 정도가 클수록 (작을수록) CSR에 미치는 영향이 크게 나타난다.

Abstract

This paper investigates the choices of R&D risk in a product differentiated duopoly market where the corporate social responsibility (CSR) is involved in the analysis. We compare the equilibrium choices between quantity and price competitions and find the following findings. Under quantity competition, CSR firm’s R&D risk level is higher than that of private firm, and the difference of R&D risk levels increases as the degree of product substitution or CSR level increases. Under price competition, the R&D risk level of CSR firm is higher than that of private firm with a lower substitutability, but the reverse is true with a higher substitutability. Comparing each firm’s R&D risk level under quantity and price competitions, the level of R&D risk under price competition is always higher than that under quantity competition and, as either product substitutability or CSR level increases, the difference of R&D risks is higher under price competition. We also extend the analysis into the case that the CSR firm chooses the degree of CSR strategically to increase its profit. We then show that if the degree of product substitutability is larger (smaller), the impact on CSR under quantity (price) competition is larger.

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